Cisco forecasts profit below estimates, cites supply chain issues
Cisco Systems Inc (CSCO.O) on Wednesday cautioned that supply chain issues will linger through the end of 2021 and forecast its current-quarter profit below estimates, sending shares of the network gear maker down 5%.
Burry of ‘Big Short’ fame reveals large bearish bet against Tesla
The family office run by “Big Short” investor Michael Burry has disclosed a large bearish bet via options on Tesla Inc (TSLA.O).
London’s ‘Golden Age’ as Europe’s financial capital is over, says NatWest chair
The City of London’s ‘Golden Age’ as Europe’s financial capital is over following Brexit, but it will remain a major and profitable centre, NatWest (NWG.L) bank chairman Howard Davies said on Tuesday.
Walmart beats estimates for sales on stimulus spending boost, raises profit forecast
Walmart Inc (WMT.N) raised its full-year earnings forecast on Tuesday and beat estimates for same-store sales as it benefited from additional stimulus checks that put more money in consumers’ pockets and boosted demand for apparel and electronics.
Asian shares push higher, dollar eases
Asian shares rose on Tuesday, shrugging off worries about an increase in regional coronavirus infections, while inflation jitters helped push gold prices to three-month highs. Equities in Europe and the United States looked set to follow. FTSE futures rose 0.76% and EuroSTOXX 50 futures traded 0.68% higher, while S&P 500 futures were up 0.33%. MSCI’s […]
Iliad signals weaker cash flow as it steps up 5G spending
Iliad flagged a cut in its free cash flow target for this year as the French telecoms group steps up its spending on 5G networks, sending its shares sharply lower on Tuesday. The company, controlled by billionaire Xavier Niel, said it would announce a new target in September, but did not say how much it […]
Burry of ‘Big Short’ fame reveals $530 mln bet against Tesla
The family office run by “Big Short” investor Michael Burry has disclosed a short position against Tesla Inc (TSLA.O) worth more than half a billion. Scion Asset Management said in a regulatory filing on Monday that it had bearish put options on 800,100 shares in Tesla as of the end of the first quarter that were worth […]
Global stocks press pause, gold hits 3-mth high on inflation concerns
Global shares hit the pause button and gold briefly crested a three-month high as surging COVID-19 cases in some Asian countries and inflation pressures tempered demand for riskier assets. Markets have been skittish in recent weeks as bumper supplies of central bank stimulus and rising prices in the United States and other countries fuel concerns […]
Asia shares fall on worries over inflation, Fed outlook
Asian shares declined in early trade on Tuesday as Wall Street retreated on worries about accelerating inflation, prompting investors to cut back on their exposure to growth-focused stocks on bets of higher interest rates in the not-too-distant future.
ARK Innovation’s performance under pressure as tech stocks swoon
A rotation out of growth and technology stocks and a recent slide in shares of Tesla Inc (TSLA.O) are weighing on the performance of ARK Innovation (ARKK.P), the flagship exchange-traded fund managed by star stock picker Cathie Wood that bested all other U.S. equity funds in 2020. The $23.1 billion fund posted a gain of less than 1% […]
